24th Jul 2012 12:05
24 July 2012
LED International Holdings Limited
("LED" or the "Company")
Energy Management Contract Secured
The board of Directors of LED is pleased to announce that the Company's indirect subsidiary, Shenzhen Strongbase New Opto-Electronics Technology Co. Ltd. ("Strongbase New"), has been awarded an energy management contract (the "EMC Contract") by Li Xian Hua Xiang Yin Sheng Textiles Limited ("Li Xian"), based in Hunan, China. The projected revenue under the EMC Contract to Strongbase New is approximately RMB2,100,000.00 (approximately £212,000.00) over a six year period.
Under the EMC Contract, Strongbase New will fit out Li Xian's manufacturing facilities with its energy-saving solutions. Specifically, Strongbase New will incorporate reactance filtering equipment into Li Xian's existing power consumption systems (which are based on traditional power generation equipment). It is expected that the new energy-saving solutions introduced by Strongbase New will bring about energy cost savings of at least 14% to Li Xian.
Strongbase New will bear all the upfront costs associated with the supply and installation of the equipment at Li Xian's premises and will then recoup these costs by way of annual instalments payable by Li Xian, based on, inter alia, the level of energy cost savings achieved.
**Ends**
For further information:
LED International Holdings Limited | |
Stephen Chan - Chief Executive Officer | +852 2243 3100 |
Allenby Capital Limited | |
Nick Naylor / Alex Price | +44 (0) 20 3328 5656 |
Notes to Editors:
LED International Holdings Limited and its subsidiaries specialize in the development, manufacture and sale of low-powered LED screens, outdoor signs, lamps, lighting and building illumination; and high-powered/medium-powered LED energy efficient indoor and outdoor lighting products.
Under EMC contracts, LED fits energy saving products to the customer's premises, including lighting and reactance filtering equipment supplied by LED, and subsequent savings made by the customer in its electricity bills are then shared between LED and the customer thereby enabling the LED to generate recurring revenue rather than one-off sales revenue.
For more information, please visit: http://www.led-intl.com
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